Azora Group has invested an undisclosed sum to buy a 33% stake in ISFA, a company dedicated to the development and management of efficient and sustainable agricultural projects.

Azora said the investment in the agricultural project management firm, also known as Iberian Smart Financial Agro, is part of its plan to expand investment in sectors and companies that “contribute to the decarbonisation of real assets and the mitigation of climate change”.

Spanish investment manager Azora, which was founded in 2003, has been investing in assets like housing, hotels, offices, logistics and renewable energy, and manages close to €6.5bn of assets under management in Europe and the US.

Concha Osácar, a founding partner of Azora, said: “With the acquisition of this important stake in ISFA, we are advancing our strategy of investing in companies that promote decarbonisation.

“At Azora we believe the fight against climate change is a responsibility that we must all prioritise as a society, which is why we are making this strategic commitment. We are convinced that this sector is key for the future and will develop significantly in the coming years.”

Santiago Olivares, partner responsible for energy, infrastructure and sustainability investments at Azora, said: “With this acquisition, Azora, which has extensive experience in the real estate and renewable energy sectors, broadens the horizon of its investments to companies whose activity is focused on providing climate and sustainability solutions, especially in the real estate sector.

“We are opening this investment channel by entering ISFA, a leading company in the agricultural sector that will revolutionise the cultivation of almonds in the Iberian Peninsula.”

ISFA plans to develop 10,000 hectares of almond trees in the Iberian Peninsula. In the last four years, the company has converted nearly 3,000 hectares, invested more than €75m and has a portfolio of farms under development of more than 6,000 hectares.

Asier Ugaldea, founding partner of ISFA, said: “ISFA celebrates the incorporation of Azora, a leading investment and asset manager committed to decarbonisation and climate change mitigation, as a strategic partner to accelerate our growth plan, with the aim of becoming the leading European almond producer with a model based on sustainability and a firm commitment to the digitisation of agricultural processes.”

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